19 Jan 2015
USD/JPY to move sideways – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes technicals indicate that the USD/JPY pair might move sideways in the near future.
Key Quotes
“Since July the USD was able to appreciate versus the JPY and reached the resistance level at 109.80 where the pair silightly rebounded. Since then the currency pair was experiencing a downward movement untill it reached the second Fibonacci Fan line where it rebounded and rapidly climbed to a new high. For the last weeks the pair was traded slightly below the resistance level at 121.68. According to the indicators, it is likely that we wil see a sideward movement in the near future.”
Key Quotes
“Since July the USD was able to appreciate versus the JPY and reached the resistance level at 109.80 where the pair silightly rebounded. Since then the currency pair was experiencing a downward movement untill it reached the second Fibonacci Fan line where it rebounded and rapidly climbed to a new high. For the last weeks the pair was traded slightly below the resistance level at 121.68. According to the indicators, it is likely that we wil see a sideward movement in the near future.”